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Fed Chair Powell: Slower economic growth may be needed to conquer stubbornly high inflation

Published Wed, 26 Feb 2025 04:41:34 GMT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Thursday that inflation remains too high and that bringing it down to the Fed’s target level will likely require a slower-growing economy and job market.Powell noted that inflation has cooled significantly from a year ago. But he cautioned that it’s not yet clear whether inflation is on a steady path back to the Fed’s 2% target. “A few months of good data are only the beginning of what it will take to build confidence that inflation is moving down sustainably toward our goal,” Powell said in remarks to the Economic Club of New York. “We cannot yet know how long these lower readings will persist or where inflation will settle over coming quarters.”Last month, Fed officials predicted that they would impose one more interest rate hike before the end of the year, on top of a series of 11 rate increases that have lifted their key rate to about 5.4%, its highest level in 22 years. Economists and Wall Street trade...

Group accused of stealing, selling $2M worth of scrap intended for Northwest Indiana steel mill

Published Wed, 26 Feb 2025 04:41:34 GMT

PORTAGE, Ind. — A group of sub-contractors is accused of running a two-year scheme that stole nearly $2 million worth of scrap metal intended for U.S Steel in Northwest Indiana.Police originally showed up to a Portage trucking company on Aug. 23, 2022 after being tipped off by the company five days prior that they had a trailer loaded with $70,000 worth of scrap metal stolen, according to documents.A manager told police a main function of company is to take scrap from U.S. Steel, located in Burns Harbor, to U.S. Gary Works in Gary. Leftover pieces of steel from U.S. Steel are hauled back to U.S. Gary Works to be melted down into coils, documents state.The manager went on to tell police he has had some issues that summer with some drivers unplugging their GPS units for their trucks. The missing trailer in question was later found in Gary on Aug. 8 by the company.Two days later on Aug 10, the manager obtained images from the Port of Indiana showing the truck on the morning of July 30....

Indulge In Autumn Flavors With Pumpkin Spice Latte French Toast

Published Wed, 26 Feb 2025 04:41:34 GMT

With the Fall season comes Fall flavors, so today we're indulging in the magic of Autumn Flavors with a pumpkin spice latte french toast recipe. Here in our studio 41 kitchen to break down the steps is Executive Chef of The Brunchery, Derek Rylon and his son Josh Rylon.2552 N. Clark StInstagram @brunchonclarkbrunchonclark.comDaytime Chicago airs weekdays on WGN from 10 a.m. - 11 a.m.

Nearly 1 in 5 couples include 'home fund' in wedding registry: study

Published Wed, 26 Feb 2025 04:41:34 GMT

(The Hill) -- Nearly 1 in 5 couples are turning to their wedding registries for help with funds to buy their first home, a new survey found. An analysis from Zillow Home Loans found nearly 20 percent of all couples using the registry website The Knot are including a "home fund" — or funds to be used toward a down payment on their first home. Zillow said that number is up 55 percent since 2018."Home funds were one of the most popular wedding registry cash funds on The Knot in 2022 — the second, in fact, right behind the honeymoon fund," Esther Lee, deputy editor of The Knot, wrote in a statement. Pointing to rising interest rates and historic highs for down payments, Lee said these sorts of funds are a significant trend among homeowners. Zillow's research also found that 43 percent of first-time buyers in 2023 reported gift funds from friends and family as a source of "at least part of their down payment funds." Rising costs continue to make it more challenging for first-time buyers,...

What can Tyson Bagent do for the Bears?

Published Wed, 26 Feb 2025 04:41:34 GMT

CHICAGO — Unless there is a dramatic change in his prognosis, a rookie quarterback is going to be under center for the Bears on Sunday at Soldier Field. Justin Fields remains doubtful after suffering a dislocated thumb in the 19-13 loss to the Vikings, so Tyson Bagent is in line to start against the Raiders.It continues one of the best stories on the team this season as the undrafted rookie out of Division II Shepherd University made the team and then beat out Nathan Peterman for the backup spot. Bagent had a so-so debut against the Vikings, leading a touchdown drive around two turnovers that would seal the Bears' loss to Minnesota. Could his upcoming start actually have fans - and maybe Jarrett Payton - a little excited to see what he can do against Las Vegas on Sunday?He discussed that with Josh Frydman on Wednesday's GN Sports as they talked about what Bagent could bring to the team should he start in place of Fields.You can watch their discussion in the video above. GN Sports ai...

How to watch Thursday's hearing in the Delphi murder case

Published Wed, 26 Feb 2025 04:41:34 GMT

ALLEN COUNTY, Ind. -- On Thursday afternoon, Delphi murder suspect Richard Allen will appear in court for a hearing.Special Judge Fran Gull ordered the hearing last week, saying it was to discuss another hearing on Oct. 31 along with "other matters which have recently arisen."Allen is charged with two counts of murder in the February 2017 deaths of Abby Williams and Libby German near the Monon High Bridge in Delphi. Multiple issues facing court ahead of October hearings in high-profile Delphi murder case For the first time in the case, cameras will be allowed in the courtroom. And while media outlets are not allowed to livestream the hearing, the proceedings can be shown on a 30-minute delay.The hearing is set to start at 2 p.m. on Thursday, Oct. 19. Coverage will start around 2:30 p.m. on FOX59. The proceedings will be streamed, on a 30-minute delay, on-air on FOX59 and online at fox59.com and cbs4indy.com.Coverage will continue until the hearing concludes. FOX59 and CBS4 will ha...

4 seniors at California college struck, killed by speeding driver on Pacific Coast Highway, officials say

Published Wed, 26 Feb 2025 04:41:34 GMT

(KTLA) – Four women who attended Pepperdine University in Malibu, California, were killed after being struck by a driver while walking along the Pacific Coast Highway this week.The crash happened around 8:30 p.m. Tuesday night, east of the Malibu Pier near La Costa Beach, authorities said.Pepperdine is located roughly four miles north of where the crash occurred.“To the students who loved, lived with, and were in community with the departed members of our Pepperdine family, my heart is broken with yours,” University President Jim Gash said in a message to the Pepperdine community. “I join you in your grief as we process this profound loss.”  ‘Could have been a lot worse’: Police hail NJ school bus driver as ‘hero’ after brakes fail During a Wednesday press conference, officials with the Los Angeles County Sheriff’s Department identified the driver as 22-year-old Fraser Michael Bohm. He is now facing manslaughter charges. Investigators said Bohm was speeding in his dark-c...

Sidney Powell pleads guilty in Georgia election interference case 

Published Wed, 26 Feb 2025 04:41:34 GMT

Trump-aligned attorney Sidney Powell pleaded guilty to six misdemeanor counts in the Georgia 2020 election interference case Thursday after reaching a plea agreement with prosecutors, the second defendant in the sweeping case to do so.Powell appeared before Fulton County Superior Court Judge Scott McAfee to enter her plea, just days before her trial was scheduled to begin next week.“How do you plead to the six counts of conspiracy to commit intentional interference with performance of election duties?” asked Daysha Young, a Fulton County prosecutor. “Guilty,” Powell said. McAfee accepted Powell’s plea and said that she cannot withdraw it. She was sentenced to six years of probation, a $6,000 fine and $2,700 restitution. She will also be required to “testify truthfully” in future proceedings and must turn over any documents requested by the district attorney’s office.  Powell was also required to submit a “letter of apology” to Georgia residents, which her lawyer indic...

NOAA's winter forecast released: What to expect

Published Wed, 26 Feb 2025 04:41:34 GMT

AUSTIN (KXAN) — Meteorological winter begins Dec. 1 and continues through the end of February, but we’re already looking at what type of weather we can expect for our coldest season.We already told you that an El Niño weather pattern has developed and the impacts that usually have for us in Central Texas. But not every El Niño is the same; therefore, we rely on these outlooks and longer-range computer models to give us the specifics unique to each winter. El Niño and Texas: What history tells us Thursday morning, NOAA released its first winter forecast, and the expectations are in line with a typical El Niño winter:Winter precipitation forecast: Bring on the rainFor Central Texas, we should expect a wetter-than-normal winter with odds favoring more rain than average. Winter precipitation forecast (CPC)Winter temperature forecast: Equal chances or Near NormalWinter temperature forecast (CPC)The Climate Prediction Center breaks down its temperature outlooks based on the odds of warm...

WATCH: Red Bull flies F1 car with new Texas-inspired design above Austin

Published Wed, 26 Feb 2025 04:41:34 GMT

AUSTIN (KXAN) — If you spotted an F1 car flying high above Austin's skyline and Lady Bird Lake Wednesday afternoon — your eyes were not deceiving you. Oracle's Red Bull Racing team unveiled its new Texas-inspired car design ahead of this weekend's Austin F1 Grand Prix by helicoptering it above the capital city. According to Red Bull Racing, Franco Cavallone's winning design based on the Lone Star Flag of Texas beat out 2,000 other fan submissions. Top designs were also put to a vote among 25,000 fans. "I thought about Austin and the Circuit of the Americas and took inspiration from the stripes and stars, and sweeping red, white, and blue lines around the corners of the track," Cavallone said, in part, in a press release. Oracle's Red Bull Racing team unveiled its new Texas-inspired car design for the Austin F1 Grand Prix via helicoptering. (Courtesy: Chad Wadsworth / Red Bull Content Pool)Oracle's Red Bull Racing team unveiled its new Texas-inspired car design for the Austin F1 Gran...